Chu trumpeted at the time that Solar Trust would prove that "when we rev up the great American innovation machine, we can out-compete any other nation."

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There is nothing innovative about solar panels, or wind turbines. This is why China kicks our behinds making them. Now Chu IS accurate but the trouble is we are stymieing innovation by arbitrarily picking winners (and never the right ones).

Here's a snip about the latest loser solar company.

In keeping with the recent trend of so-called green companies going into the red, another solar energy company supported by President Obama's top administration officials declared bankruptcy today.

Solar Trust for America received $2.1 billion in conditional loan guarantees from the Department of Energy -- "the largest amount ever offered to a solar project," according to Energy Secretary Steven Chu -- for a project near Blythe, Calif., but declared bankruptcy within a year. It is unclear how much of the guarantee, if any, was actually awarded.